Corporates
GET OUR CORPORATE MARKET SUMMARIES STRAIGHT TO YOUR INBOX. LEARN MORE
High Yield Corporate Bond Market Summary:
Week Ending 7/8/22
Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.
New Issues
HY Corp bond new issues for the week ending 7/8/22, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PX AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
| F&G Global Funding (USD) 5.15% 7/7/2025 | N/A | 300 | 99.934 | 5.17 | 195 |
| Avaya Inc. (USD) 8% 12/15/2027 | N/A | 250 | 100 | N/A | N/A |
Forward Calendar
The following are lists of upcoming high-yield corporate bond offerings in the United States
| ISSUER | DEAL INFORMATION | BANKS | EXPECTED ISSUE DATE |
| Garden Spinco Corp. | $350MM senior notes | GS | Week of July 11th |
| Tenneco | $3 billion high-yield notes | N/A | Q3 2022 |
| Viasat Inc. | $1.6 billion senior notes | BofA | Q3 2022 |
Top 10 Winners
Showcases the top 10 HY Corp “winners” based on the largest bid price increases between 7/1/22 – 7/8/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | ZHLGHD 9.5 7/29/2022 | 9.50% | 07/29/22 | 56.08% | 45.66 | 29.26 |
| 2 | GRNLGR 6.75 9/26/2023 | 6.75% | 09/26/23 | 37.34% | 42.54 | 30.97 |
| 3 | BORFIN 6 9/17/2026 REGS | 6.00% | 09/17/26 | 33.79% | 33.45 | 25.00 |
| 4 | ENDP 9.5 7/31/2027 REGS | 9.50% | 07/31/27 | 26.80% | 26.99 | 21.28 |
| 5 | AGGHOL 5.5 5/17/2024 | 5.50% | 05/17/24 | 14.67% | 34.64 | 30.21 |
| 6 | HEIBOS 2.625 PERP | 2.63% | 01/26/99 | 13.45% | 58.07 | 51.18 |
| 7 | SIGHCO 5.75 5/15/2026 REGS | 5.75% | 05/15/26 | 12.64% | 57.88 | 51.38 |
| 8 | RFP 4.875 3/1/2026 144A | 4.88% | 03/01/26 | 11.21% | 99.47 | 89.45 |
| 9 | HOME 7.125 7/15/2029 144A | 7.13% | 07/15/29 | 10.18% | 60.51 | 54.92 |
| 10 | RISSUN 9.5 9/17/2024 | 9.50% | 09/17/24 | 6.27% | 26.03 | 24.49 |
Top 10 Losers
Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 7/1/22 – 7/8/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | KWGPRO 5.2 9/21/2022 | 5.20% | 09/21/22 | -35.89% | 25.74 | 40.15 |
| 2 | CIFIHG 4.375 4/12/2027 | 4.38% | 04/12/27 | -26.55% | 39.64 | 53.96 |
| 3 | ROADKG 7.75 PERP | 7.75% | 11/18/99 | -26.28% | 40.14 | 54.46 |
| 4 | CENCHI 7.65 8/27/2023 | 7.65% | 08/27/23 | -22.72% | 33.36 | 43.16 |
| 5 | HONGSL 9.875 8/27/2022 | 9.88% | 08/27/22 | -17.97% | 29.00 | 35.35 |
| 6 | MHPSA 6.25 9/19/2029 REGS | 6.25% | 09/19/29 | -17.33% | 39.90 | 48.26 |
| 7 | VEDLN 6.125 8/9/2024 144A | 6.13% | 08/09/24 | -17.31% | 50.84 | 61.48 |
| 8 | FOSUNI 5.05 1/27/2027 | 5.05% | 01/27/27 | -16.57% | 49.29 | 59.08 |
| 9 | FTLNHD 4.625 10/15/2025 | 4.63% | 10/15/25 | -14.15% | 40.48 | 47.16 |
| 10 | KERPW 6.75 10/27/2027 REGS | 6.75% | 10/27/27 | -13.01% | 36.80 | 42.31 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 7/1/22 – 7/8/22
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Sentiment
Reveals the percent of HY Corps increasing in price (advancers) vs. HY Corps decreasing in price (decliners) between 7/1/22 – 7/8/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 7/1/22 vs. the week ending 7/8/22
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | PETBRA 6.85 6/5/2015 | 6.85% | 06/05/15 | 75 | 190 | 115 | 153% |
| 2 | ISPIM 6.375 PERP | 6.38% | 09/30/99 | 184 | 224 | 40 | 22% |
| 3 | RENGRO 0 2/1/2027 REGS | 0.00% | 02/01/27 | 68 | 104 | 36 | 53% |
| 4 | KLAC 5.25 7/15/2062 | 5.25% | 07/15/62 | 251 | 285 | 34 | 14% |
| 5 | FITB 5.1 PERP | 5.10% | 12/29/49 | 177 | 210 | 33 | 19% |
| 6 | HOME 7.125 7/15/2029 144A | 7.13% | 07/15/29 | 250 | 282 | 32 | 13% |
| 7 | KLAC 4.95 7/15/2052 | 4.95% | 07/15/52 | 269 | 299 | 30 | 11% |
| 8 | POWDRC 6 8/1/2025 144A | 6.00% | 08/01/25 | 110 | 140 | 30 | 27% |
| 9 | BALDER 3 3/7/2078 | 3.00% | 03/07/78 | 161 | 191 | 30 | 19% |
| 10 | GS 5 PERP | 5.00% | 11/01/99 | 155 | 184 | 29 | 19% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 7/1/22 – 7/8/22
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | PBFENE 9.25 5/15/2025 144A | 9.25% | 05/15/25 | 43 |
| 2 | CPE 6.125 10/1/2024 | 6.13% | 10/01/24 | 38 |
| 3 | IBM 2.72 2/9/2032 | 2.72% | 02/09/32 | 37 |
| 4 | CHTR 5.25 4/1/2053 | 5.25% | 04/01/53 | 37 |
| 5 | CHTR 4.25 2/1/2031 144A | 4.25% | 02/01/31 | 36 |
| 6 | GT 5 5/31/2026 | 5.00% | 05/31/26 | 36 |
| 7 | MGM 6 3/15/2023 | 6.00% | 03/15/23 | 36 |
| 8 | MGM 4.625 9/1/2026 | 4.63% | 09/01/26 | 35 |
| 9 | GT 4.875 3/15/2027 | 4.88% | 03/15/27 | 35 |
| 10 | WBD 5.141 3/15/2052 | 5.14% | 03/15/52 | 35 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 7/1/22 – 7/8/22
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 7/1/22 – 7/8/22
Stay up-to-date with weekly summaries.
